Recogni raises US$100 million for generative AI push

Recogni raises US$100 million for generative AI push

Business news |
By Peter Clarke

Recogni Inc. (San Jose, Calif.) has raised $102 million in Series C funding, co-led by Celesta Capital and GreatPoint Ventures.

Existing investors Mayfield, DNS Capital, BMW i Ventures, and SW Mobility Fund also participated.

Joining the round are new investors Pledge Ventures and Tasaru Mobility Investments, a company wholly owned by Public Investment Fund (PIF), with debt provided by HSBC Innovation Banking.

The money will be used to develop AI inference processors, Recogni said. The company claims it has a scalable, power-efficient AI inference acceleration technique that can be applied to generative AI and intelligent autonomy.

“The critical need for solutions that directly address the key challenges in AI inference processing – compute capability, scalability, accuracy, and energy savings – is more urgent than ever. Recogni is leading this transformative wave, engineering pivotal advances that will redefine data centers and enterprise and revolutionize industries like automotive and aerospace,” said Marc Bolitho, CEO of Recogni, in a statement.

Recogni asserts that training and inference based on AI-GPUs is ecologically unsustainable due to power consumption.

“When you have a solution that achieves 10x higher compute density, 10x lower power and 13x less cost per query, it’s a no-brainer to invest and help bring that solution to market,” said Ashok Krishnamurthi, managing partner at GreatPoint Ventures.

Recogni introduced Scorpio, its first AI compute product, in December 2022 (see AI PCIe card for autonomous mobility boost).

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